Capstone Copper (CS) Corporate presentation summary

Strategic positioning and growth outlook

• Operates five long-life copper assets in stable jurisdictions across the Americas, targeting near-term copper production growth to ~400ktpa with declining unit costs.

• Maintains a strong balance sheet with over $1B in liquidity and disciplined capital allocation, supporting the next stage of growth.

• Focuses on responsible production, community impact, and a management team with extensive mine-building and operating experience.

Asset portfolio and expansion projects

• Mantoverde achieved nameplate throughput within one year of operation, outperforming industry ramp-up averages; brownfield expansion (MV-O) to increase mill throughput from 32ktpd to 45ktpd, adding 20ktpa copper at $176M capex.

• Santo Domingo, a fully permitted project, targets 106ktpa copper and 3.7Mtpa iron ore over a 19-year mine life, with a $2.3B initial capex and a 24% post-tax IRR.

• Mantos Blancos and Pinto Valley are advancing debottlenecking and expansion studies, with Mantos Blancos Phase II aiming to boost throughput to ~27ktpd and cathode production by 25ktpa.

• Cozamin extended mine life by six years, implementing selective mining and paste backfill for cost and dilution control.

Financial performance and capital structure

• Q2 2025 available liquidity stood at $1.1B, with net debt at $255M and a net debt/EBITDA ratio of 1.0x.

• 2025 copper production guidance is 220–255kt at C1 cash costs of $2.20–$2.50/lb; Q2 2025 consolidated copper production was 57,416 tonnes at $2.45/lb C1 cash cost.

• Capital expenditures for 2025 include $255M sustaining, $120M expansionary, and $210M capital stripping, with $25M allocated to exploration.

• Debt maturities are termed out to 2029 and beyond, with a simplified structure and ample undrawn credit capacity.